Dogwifhat (WIF) experienced a sharp decline in active addresses, falling from 17,000 to 3,692, indicating reduced interest. This corresponded with a price drop from $4.20 to $3.27.
The decline in active addresses is historically seen as a bearish sign, reflecting diminished momentum and prospective price weakness. Concurrently, negative market sentiment suggests that the Solana meme coin's value may fall further.
Technically, the Awesome Oscillator (AO) showed red histogram bars, hinting at waning bullish momentum. If this persists, WIF could drop to $2.69, though a bullish sentiment reversal could see a rally to $4.79.
![Dogwifhat [WIF] Shows Stability Amid Market Declines with Potential for 60% Rally If Key Support Holds](https://loutre.blockchair.io/w4/storage/news/ctag.png){kind=small}
